Strong Institutional Volume Propels XRP Past $3 With 8% Rebound

XRP Breaks $3 Amid Institutional Buying, Ripple–BBVA Partnership Boosts Sentiment

XRP climbed above $3 between September 9–10, supported by rising institutional demand and optimism following Ripple’s expanded collaboration with BBVA under EU MiCA compliance. The partnership strengthens expectations that traditional banks may increase adoption of blockchain-based settlement solutions.

Bulls successfully defended support near $2.99, though analysts note that elevated exchange reserves — reaching 12-month highs — could temper further upside.

Key Market Drivers

• Ripple–BBVA Collaboration: Enables MiCA-compliant custody and settlement, signaling potential adoption by European banks.
• ETF Speculation: U.S. traders anticipate SEC decisions in October, which could act as catalysts for institutional XRP inflows.
• Derivatives Positioning: Call-to-put ratios reached 3-to-1 between $2.90–$3.50 ahead of the September 12 options expiry, reflecting bullish sentiment.
• Exchange Reserves: Rising XRP balances on exchanges suggest possible distribution pressure despite positive news.

Price Action & Technicals

• XRP advanced from $2.97 to $3.02, an 8% gain, hitting intraday highs of $3.02 on volume surges of 4.36M and 3.44M units.
• Support formed at $2.94–$2.95, confirmed by repeated high-volume retests.
• Break above $3.00 validated a bullish continuation zone, with next resistance near $3.05–$3.10 (Fibonacci extension).
• Higher lows and the breakout from consolidation suggest strong institutional participation and momentum.

Trader Focus

• Whether XRP can sustain daily closes above $3.00 to confirm the breakout.
• SEC ETF rulings in October as a potential structural catalyst for institutional inflows.
• September 12 options expiry, where call-heavy positioning may heighten volatility.
• Impact of rising exchange reserves on potential distribution pressure.
• Follow-through from the Ripple–BBVA partnership as a signal of broader European banking adoption of blockchain settlements.